Peru: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Peru

The Peruvian chocolate and confectionery market declined slightly to $X in 2022, falling by -4.6% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Chocolate and confectionery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Chocolate And Confectionery Production in Peru

In value terms, chocolate and confectionery production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Chocolate And Confectionery Exports

Exports from Peru

In 2022, approx. X tons of chocolate and confectionery were exported from Peru; picking up by 11% against the previous year. In general, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2019 with an increase of 41% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, chocolate and confectionery exports skyrocketed to $X in 2022. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 32% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X tons) was the main destination for chocolate and confectionery exports from Peru, accounting for a 34% share of total exports. Moreover, chocolate and confectionery exports to the United States exceeded the volume sent to the second major destination, Argentina (X tons), fourfold. Chile (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+60.8% per year) and Chile (+20.9% per year).

In value terms, the United States ($X) remains the key foreign market for chocolate and confectionery exports from Peru, comprising 39% of total exports. The second position in the ranking was taken by Argentina ($X), with a 7.5% share of total exports. It was followed by Chile, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+60.8% per year) and Chile (+19.4% per year).

Export Prices by Country

In 2022, the average chocolate and confectionery export price amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into Peru

In 2022, chocolate and confectionery imports into Peru dropped markedly to X tons, which is down by -20.5% on 2021 figures. In general, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +5.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. As a result, imports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, chocolate and confectionery imports reduced to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 44%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Colombia (X tons), Ecuador (X tons) and the United States (X tons) were the main suppliers of chocolate and confectionery imports to Peru, with a combined 44% share of total imports. Chile, Malaysia, Brazil, Turkey, China, Italy, Mexico, the Netherlands and Argentina lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate and confectionery suppliers to Peru were Ecuador ($X), the United States ($X) and Colombia ($X), together comprising 43% of total imports. Malaysia, Chile, Brazil, Turkey, China, Italy, Mexico, the Netherlands and Argentina lagged somewhat behind, together comprising a further 37%.

Turkey, with a CAGR of +31.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate and confectionery import price stood at $X per ton in 2022, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The import price peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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